Bitcoin Crashes by $2,000 in 60 Minutes

Ether drops below $3,000 as leveraged liquidations approach $150 million.

By: yyctrader Loading...

downward-trending arrow and breaking bar graphs

Crypto markets turned sharply lower on Friday, retracing the gains from yesterday’s rate cut optimism-driven rally.

Bitcoin dropped 3% in the span of an hour, while Ether plunged below $3,000. Solana’s SOL dipped by 4% to $147.

BTC price chart
BTC price

Among the top 100 cryptocurrencies by market capitalization, the biggest losers are liquid staking leader Lido (LDO) and Bittensor (TAO), the decentralized AI project. Both are down around 7% in the past 24 hours.

Meanwhile, Akash Network (AKT) and Telegram-affiliated TON are the best performers, up 13% and 8%, respectively.

The selloff appears to be isolated to crypto for now, as major stock markets and the U.S. dollar are trading flat on the day.

Nearly $150 million of leveraged positions were liquidated in the past 24 hours, with just over half that figure in the past four hours, according to CoinGlass.